ALABAMA, April 3, 2024 – Franklin Street Self-Storage announced today that it has closed the sale of two newly constructed self-storage facilities in Alabama: Local Storage of Saraland and Local Storage of Semmes.
Franklin Street represented the seller Mississippi-based Anderson Construction, and the buyer, Twelvestone, acquired both facilities, each offering distinct features and advantages.
Local Storage of Saraland, situated on 1.7 acres at 203 Celeste Rd, spans 29,300 net rentable square feet and features 222 units.
Meanwhile, Local Storage of Semmes, located at 2034 Schillinger Rd N, spans 37,000 net rentable square feet across a 5-acre lot, comprising 284 units.
Leading this successful transaction in the Southeast was Franklin Street Self-Storage Investment Sales team, strategically led by Senior Directors Frank DeSalvo and David Perlleshi.
Rob Hunt, Chief Operating Officer at Anderson Construction, commented, “The closing of our two facilities in Alabama marks the second and third transactions led by the team at Franklin Street. These transactions are a testament to Frank and David’s dedication, expertise, and unwavering commitment to their clients. Their ability to navigate the complexities of each deal efficiently and their commitment to achieving the best possible outcome is exceptional. We couldn’t be more pleased with the result.”
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About Franklin Street:
Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management. With $10 billion in transaction value across all major product types, Franklin Street offers unmatched value and optimal solutions for clients nationwide. Headquartered in Tampa, Fla., the firm has teams located in top markets throughout the country and works with owners and occupiers of commercial real estate nationwide. Learn more about Franklin Street at FranklinSt.com.
